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Hi,
I am not able to find the British Pound 'GBP' into the currencies list. Should i add it manually??
Then, How to setup it as a default currency for my company? As, I tried to find this parameter into "Company Information" form but it wasn't there.
Thanks
NO - PLEASE DO NOT CREATE IT!
Please don't add your local currency to the currency list.
If it is ever set on vendors/customers/banks, you post transactions and it has an exchange rate you will really mess up your books.
It is very hard to clean up after such an error - so please NEVER add a local currency to the currencies list!!!
Always us a blank/empty currency when you deal with local currency (LCY) and define which one it is on the General Ledger Setup page.
Again: PLEASE NEVER ADD IT AS A CURRENCY! :-)
Blank, or we call it LCY (local currency) is basically your default currency. You can treat blank as GBP, USD, JPY, anything you want.
If you want to add a different currency, you add it into your currency list manually.
Hi Peter,
In Business Central there is no setting your default currency or company currency. The idea here is a LYC (or local currency) and then any exchanges is done to the currency amount.
So you need to assume no currency selected on all transactions and reports = local or default currency; selecting a currency = exchanged amount based on FX table.
Thanks,
Aaron
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YUN ZHU
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Mansi Soni
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Sagar Dangar, MCP
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